- Akash could experience a brief price recovery before falling to lower levels.
- The chart indicates a strong resemblance to Akash’s early 2022 pattern.
- Investors should monitor support levels around $1.60 to $1.70 for potential risks.
On February 18, 2025, renowned analyst Ali (@ali_charts) shared a chart of Akash Network’s ($AKT) price movement that reveals an eerie resemblance to the token’s early 2022 performance. The chart suggests that Akash is currently undergoing a similar pattern to that observed in the first quarter of 2022, with a dramatic peak followed by a steep drop.
Akash’s price recently hovered near $1.90, a decline from its previous highs, mirroring the sharp fall observed in mid-2022. The analysis hints that the token could see a short-term bounce before testing even lower price levels.
Akash’s Price Movement: Early 2022 Pattern Repeating?
In the chart, Akash’s price surged to approximately $5.50 before experiencing a notable crash. The price trajectory of Akash, marked in black on the chart, demonstrates a sharp rise that peaked around $5.60, followed by a steep downward spiral towards its current price of $1.89.
The dotted lines across the chart highlight key resistance levels, which are crucial in understanding where the token might be supported. These levels point to potential price ranges between $1.60 and $1.70, where the token could briefly stabilize before potentially continuing its downward trend.
The Dead Cat Bounce: A Possible Short-Term Recovery
The chart of Ali indicates that Akash may see a “dead cat bounce,” which is a temporary price rise before the sentiment drags it down again. It is a temporary price recovery after a largely depreciative trend and usually leads to further depreciation.
According to the analyst, such bounces frequently occur in crypto markets and extreme volatility. While this expected bounce could prove respite for investors, it is perhaps most likely to be followed by loss to lower lows due to the poor sentiment prevailing in the larger crypto market.
Akash may witness some lingering price testing between $1.60 to $1.70, with yet more potential price declines likely in the future, based on the historical price patterns and current price action. According to the projections made by Ali, the possibility allows Akash to revisit the lower lows any time soon; hence this is a crucial moment when traders are advised to keenly gauge market conditions.
